Drex Davis Recent Posts- Why I supported Proposition 102 in Arizona (and Prop. 8 in CA)
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Chuck Schumer fails IndyMac Bank
This is some choice info from the IndyMac story . . .
IndyMac, which once employed 10,000, fell prey to a classic run on the
bank, and regulators singled out Sen. Charles E. Schumer (D-N.Y.) for
helping fuel massive withdrawals. On June 26, the Schumer said in
letters to the FDIC, the OTS and two other federal agencies that
IndyMac may have “serious problems” with its loan holdings.
Nice job there …
comments
IndyMac Bank fails
It won’t be the last. Sadly.
I’m having visions of the bank run in “It’s a Wonderful Life” only there’s no George Bailey at the helm.
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